lub_dub_floristfandomcom-20200213-history
Industry Overview
Industry Overview Being one of the most lucrative industries in Malaysia, floriculture has been emphasised in the National Agrofood Policy 2011-2020 (Dasar Agromakanan Negara 2011-2020) to be promoted as one of the highly potential industries which generates high income to the producers. Statistic shows that the export value for floricultural industry increased from RM 54 million in 2000 to RM 283 million in 2008, and was targeted to reach RM 610 million in 2015 and RM 857 million in the next 5 years. The top export market is Japan, followed by Singapore, Holland, Hong Kong, Australia and Thailand. World Trends in Flower Marketing Back to 50 years ago, demand for cut flowers around the world was satisfied by local production. During that time, significant market demand for cut flowers in Europe contributed to robust development of flower industry in the region which turned up to be the beginning of commercial floriculture that we recognise today. Till now European countries have led the floriculture production at global scale. The trend of using flowers for decorative purposes and gift-giving have slowly spread from the Westerns to all over the world, most noticeable in the developing Asian countries such as Japan, Hong Kong, Korea and Singapore. Due to promising market in the foreign countries, floricultural industry in Malaysia have been paying much attention to the export. As a result, potential local market is often overlooked. This gives us the idea of running a flower selling business in our country. Our Location We realised that Petaling Jaya in Malaysia is an affluent area with a large population of white-collar employees who have high purchasing power, an ideal market for our industry. Second, literacy rate is high and most of them are English speaking hence we believe that decorative culture originated from Western countries using vase flowers, in offices or at homes are widely accepted. Third, the official population census in 2010 reveals that among the 613,977 residents in Petaling Jaya, a significant proportion of them are Chinese (221,513, 36.1%). This is helpful because most Chinese buy flowers for religious purposes, especially during the first and the fifteen days of every lunar month, meaning we are expected to have regular sales on these days. To begin, we will first include but not limited to all the citizens, workers and people in the University of Malaya as our customers before eventually expand our business to every part of Petaling Jaya. The University of Malaya is selected mainly due to absence of competitors and provision of a large, potential market. We aim to sell 300 stalks of flowers during non-festive week and generate a total revenue of RM 80,000 by the end of the first year, then gradually increases our sales target each year. The Competition Increasing establishment of florists in Petaling Jaya indicates expanding of the industry and positive market prospective. Yet, absence of competitors in the University of Malaya and places nearby provides a golden opportunity and conducive environment for us to start a new business. What Makes Lub Dub Florist So Special One of the core values of Lub Dub Florist is appreciation. In order to create a warm, pleasant and affectionate society, we feel the need to instill and pass on this value to the communities. We encourage people to send flowers to their beloveds, relatives, friends, colleagues and anyone who are important in their lives at any time to show appreciation and foster strong relationship. Due to this responsibility, prices of our products, even though are fresh and of highest quality, are always affordable to all ranges of people. Furthermore, we are selling flowers of various variety which cater to the need of joyful, romantic and grief occasions to increase our sales and also cause more choices and ease to the customers. Ultimately, realising that people staying in city lead a busy life, our company Lub Dub Florist offers delivery service for their convenience, not only limited to the buyers, but also to those under request.